WITH plans going awry while travelling the unfortunate theme of the last two years, many in the travel sector are relieved to see more company’s starting to take the concept of cancelled plans more seriously.
One new player in this space is an Aussie business called Cancellation Covered, offering ticket insurance to travellers in the event of encountering bad luck like illness or injury. Backed by Cover-More Insurance Group, Cancellation Covered GM Chris Weide believes insurance products such as his will help instil greater confidence in travellers, many of whom are still suffering the psychological wounds of the pandemic.
“It gives operators a revenue stream so they can collect a commission on selling the policy and it also gives customers purchase-confidence by knowing that if something does happen to them…they can claim and get their money back,” he said.
Cancellation Covered costs 1.5% of the ticket price and covers a range of travel experiences such as attractions, festivals and sporting events.